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Below the Quote on Market Wrap Up by Shrikant Chouhan, Head Equity Research, Kotak Securities Ltd

The benchmark indices continued positive momentum, the Nifty/Sensex registered a fresh all time high of 24401/80392.64 Among Sectors, Pharma, Healthcare and IT indices rallied over 1 percent whereas some profit booking were seen in selective Media and Financial stocks.  Technically, after a gap up opening entire day the market hovered between 24280-24400/80000-80390 price ranges. After a promising uptrend rally currently, market witnessing non-directional activity at higher levels, perhaps traders are waiting for either side breakout. For the day traders now, 24400/80390 would be the immediate breakout level. Above which, the market could rally up to 24500-24525/80700-80800. On the flip side, below 24280/80000 the sentiment could change. Below the same, the market could retest the level of 24200-24165/79700-79550.

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